Shore Bancshares, Inc. (NASDAQ:SHBI) Shares Sold by Fourthstone LLC

Fourthstone LLC lessened its stake in shares of Shore Bancshares, Inc. (NASDAQ:SHBI - Free Report) by 10.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,968,891 shares of the bank's stock after selling 361,031 shares during the quarter. Shore Bancshares comprises approximately 9.2% of Fourthstone LLC's holdings, making the stock its 3rd largest position. Fourthstone LLC owned about 8.91% of Shore Bancshares worth $47,057,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Hillsdale Investment Management Inc. acquired a new stake in shares of Shore Bancshares in the fourth quarter valued at about $2,645,000. American Century Companies Inc. grew its holdings in Shore Bancshares by 45.7% in the 4th quarter. American Century Companies Inc. now owns 469,182 shares of the bank's stock valued at $7,437,000 after buying an additional 147,148 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Shore Bancshares in the 4th quarter worth approximately $1,479,000. JPMorgan Chase & Co. increased its position in Shore Bancshares by 394.2% in the 4th quarter. JPMorgan Chase & Co. now owns 104,174 shares of the bank's stock worth $1,651,000 after buying an additional 83,096 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Shore Bancshares by 152.4% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 137,599 shares of the bank's stock worth $2,181,000 after buying an additional 83,079 shares during the last quarter. Institutional investors and hedge funds own 59.76% of the company's stock.

Shore Bancshares Stock Performance

Shares of NASDAQ:SHBI traded up $0.16 during trading on Friday, hitting $12.51. 144,577 shares of the stock were exchanged, compared to its average volume of 121,306. The company has a market capitalization of $417.23 million, a price-to-earnings ratio of 9.41 and a beta of 0.86. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.93 and a current ratio of 0.94. Shore Bancshares, Inc. has a 1-year low of $10.31 and a 1-year high of $17.61. The company's fifty day simple moving average is $13.88 and its 200-day simple moving average is $15.02.

Shore Bancshares (NASDAQ:SHBI - Get Free Report) last issued its earnings results on Thursday, January 30th. The bank reported $0.44 EPS for the quarter, topping the consensus estimate of $0.35 by $0.09. Shore Bancshares had a return on equity of 10.40% and a net margin of 13.44%. Sell-side analysts expect that Shore Bancshares, Inc. will post 1.59 EPS for the current fiscal year.

Shore Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Thursday, February 13th were paid a $0.12 dividend. The ex-dividend date was Thursday, February 13th. This represents a $0.48 dividend on an annualized basis and a yield of 3.84%. Shore Bancshares's payout ratio is currently 36.09%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler initiated coverage on shares of Shore Bancshares in a research report on Thursday, February 6th. They set an "overweight" rating and a $20.00 target price on the stock.

Shore Bancshares Profile

Shore Bancshares, Inc operates as a bank holding company for the Shore United Bank, N.A. that provides various commercial and consumer banking products and services to individuals, businesses, and other organizations. It offers checking, savings, overnight investment sweep, and money market accounts; and regular and IRA certificates of deposit, as well as CDARS programs and cash management services.